E.P.O.: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
E.P.O.
Largest movements
- Tangible fixed assets +€6,698
up €6,698 (+21.7%), from €30,862 to €37,559
of which Furniture and vehicles: +€12,647
- Receivables within one year +€5,281
up €5,281 (+42.6%), from €12,389 to €17,670
of which Trade receivables: +€3,543
- Deferred charges and accrued income -€1,484
down €1,484 (-53.0%), from €2,802 to €1,318
- Reserves +€27,201
up €27,201 (+73.3%), from €37,096 to €64,297
of which Distributable reserves: +€27,201
- Debts after one year -€6,804
down €6,804 (-24.0%), from €28,363 to €21,559
of which Financial debts: -€5,604
- Other debts -€5,370
down €5,370 (-95.6%), from €5,619 to €249
- Tax, wage and social debts -€3,106
down €3,106 (-35.6%), from €8,722 to €5,616
- Trade debts -€2,574
down €2,574 (-59.7%), from €4,309 to €1,734
- Gross operating margin +€8,382
up €8,382 (+20.0%), from €41,881 to €50,263
- Taxes +€6,700
up €6,700 (+278.7%), from €2,404 to €9,105
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €105,124 | €115,759 | +€10,636 | +10.1% |
| Fixed assets | 21/28 | €32,467 | €39,165 | +€6,698 | +20.6% |
| Tangible fixed assets | 22/27 | €30,862 | €37,559 | +€6,698 | +21.7% |
| Land and buildings | 22 | €23,100 | €18,150 | -€4,950 | -21.4% |
| Plant, machinery and equipment | 23 | €1,543 | €745 | -€798 | -51.7% |
| Furniture and vehicles | 24 | €5,204 | €17,851 | +€12,647 | +243.0% |
| Other tangible fixed assets | 26 | €1,014 | €813 | -€201 | -19.9% |
| Financial fixed assets | 28 | €1,605 | €1,605 | = | 0.0% |
| Current assets | 29/58 | €72,657 | €76,595 | +€3,938 | +5.4% |
| Amounts receivable within one year | 40/41 | €12,389 | €17,670 | +€5,281 | +42.6% |
| Trade receivables | 40 | €12,389 | €15,932 | +€3,543 | +28.6% |
| Other amounts receivable | 41 | - | €1,738 | +€1,738 | |
| Cash at bank and in hand | 54/58 | €57,466 | €57,606 | +€140 | +0.2% |
| Deferred charges and accrued income | 490/1 | €2,802 | €1,318 | -€1,484 | -53.0% |
| Total equity and liabilities | 10/49 | €105,124 | €115,759 | +€10,636 | +10.1% |
| Equity | 10/15 | €43,296 | €70,497 | +€27,201 | +62.8% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €37,096 | €64,297 | +€27,201 | +73.3% |
| Non-distributable reserves | 130/1 | €1,860 | €1,860 | = | 0.0% |
| Reserves not available under the articles | 1311 | €1,860 | €1,860 | = | 0.0% |
| Distributable reserves | 133 | €35,236 | €62,437 | +€27,201 | +77.2% |
| Amounts payable | 17/49 | €61,828 | €45,263 | -€16,565 | -26.8% |
| Amounts payable after more than one year | 17 | €28,363 | €21,559 | -€6,804 | -24.0% |
| Financial debts | 170/4 | €27,163 | €21,559 | -€5,604 | -20.6% |
| Other amounts payable | 178/9 | €1,200 | - | -€1,200 | |
| Amounts payable within one year | 42/48 | €23,965 | €13,204 | -€10,761 | -44.9% |
| Current portion of amounts payable after more than one year | 42 | €5,314 | €5,604 | +€290 | +5.5% |
| Trade debts | 44 | €4,309 | €1,734 | -€2,574 | -59.7% |
| Suppliers | 440/4 | €4,309 | €1,734 | -€2,574 | -59.7% |
| Taxes, remuneration and social security | 45 | €8,722 | €5,616 | -€3,106 | -35.6% |
| Taxes | 450/3 | €8,722 | €5,616 | -€3,106 | -35.6% |
| Other amounts payable | 47/48 | €5,619 | €249 | -€5,370 | -95.6% |
| Accrued charges and deferred income | 492/3 | €9,500 | €10,500 | +€1,000 | +10.5% |
| Non-recurring operating income | 76A | - | €705 | +€705 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €9,707 | €9,998 | +€290 | +3.0% |
| Other operating charges | 640/8 | €1,731 | €1,837 | +€106 | +6.1% |
| Gross operating margin | 9900 | €41,881 | €50,263 | +€8,382 | +20.0% |
| Operating profit (loss) | 9901 | €30,443 | €38,429 | +€7,986 | +26.2% |
| Financial income | 75/76B | €0 | €323 | +€322 | +76778.6% |
| Recurring financial income | 75 | €0 | €323 | +€322 | +76778.6% |
| Financial charges | 65/66B | €2,001 | €2,446 | +€445 | +22.3% |
| Recurring financial charges | 65 | €2,001 | €2,446 | +€445 | +22.3% |
| Profit (loss) for the period before taxes | 9903 | €28,442 | €36,305 | +€7,863 | +27.6% |
| Income taxes | 67/77 | €2,404 | €9,105 | +€6,700 | +278.7% |
| Profit (loss) for the period | 9904 | €26,038 | €27,201 | +€1,163 | +4.5% |
| Profit (loss) for the period to be appropriated | 9905 | €26,038 | €27,201 | +€1,163 | +4.5% |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 12 October 2026 via checked.be.